Market Info

Forex Major Currencies Outlook (November 7, 2013)

USD

The US dollar was mostly stuck in consolidation against its major currency counterparts since there were no top-tier reports released from the US economy. 

NZD/JPY Range Setup (November 7, 2013)

NZD/JPY is about halfway through in climbing to the top of its range on the 4-hour time frame. The pair is approaching the 83.50 minor psychological level, which could hold as resistance.

Forex Major Currencies Outlook (November 6, 2013)

USD

After a bit of a selloff in the earlier trading sessions, the Greenback regained ground in the New York session when the US economy printed a better than expected ISM non-manufacturing PMI report. 

GBP/USD Rally Continuation? (November 6, 2013)

GBP/USD bounced off the established support level around 1.5950 in yesterday’s trading, as the UK printed a better than expected services PMI figure. The pair was also able to break above the 1.6000 major psychological level then consolidate at 1.6050.

Forex Major Currencies Outlook (November 5, 2013)

USD

The US dollar was off to a slow start on Monday and was unable to sustain its rallies from the previous week. 

USD/CHF Major Correction to .9200 (November 5, 2013)

USD/CHF’s rallies might soon be over, as the pair is approaching a potential resistance level. The .9200 major psychological mark has acted as support in the past and is around the Fibonacci retracement levels on the daily time frame, which means that it could keep the pair from climbing any higher.

Forex Major Currencies Outlook (November 4, 2013)

USD

The US dollar was able to get a boost from stronger than expected ISM manufacturing PMI for October, as the reading climbed from 56.2 to 56.4 instead of dipping to the consensus at 55.3. 

EUR/JPY Selloff to Resume (November 4, 2013)

EUR/JPY suffered a heavy selloff starting Thursday last week when ECB officials hinted that a rate cut is in the cards. EUR/JPY dropped from the 135.50 area by close to 300 pips before making a quick bounce at the start of this trading week.

Forex Major Currencies Outlook (November 1, 2013)

USD

The US dollar had a mixed trading day, as it gained ground against the euro and franc but gave up some gains to the Canadian dollar and Japanese yen. 

GBP/USD Range Setup (November 1, 2013)

GBP/USD is approaching the bottom of its range on the 1-hour time frame, and it just might reach that support level depending on the UK manufacturing PMI release. The report is projected to post a small decline, reflecting a slight downturn in the industry.